Digital Lending, Better Service
Chorley Building Society has completed a core banking and lending upgrade to the Tata Consultancy Services BaNCS platform, while Scottish Building Society and Malted AI have been recognised for using artificial intelligence to analyse customer interactions. These developments underline how mutuals and specialist lenders are investing in modern infrastructure as well as front-office technology. For […]
Mortgage AI Compliance Controls
Industry commentary has highlighted the risks of shadow AI, where staff use unapproved tools to process client information or generate communications outside an established control framework. At the same time, the FCA continues to emphasise strong compliance cultures and reports that firms’ understanding of Consumer Duty expectations has improved. Mortgage and financial-advice firms deploying AI […]
Expat Cases: AI Opportunity
Research from Suffolk Building Society found that 62% of brokers see proof of income and affordability as the principal challenge in expat mortgage cases. Overseas payslips, tax returns, currency differences and varied employment structures can make lender matching and evidence collection more time-consuming. AI tools may help advisers organise and summarise client documents, flag missing […]
AI Needs Human Advice
Debate is growing over whether AI could replace mortgage brokers and other mortgage-market roles. The more immediate opportunity is likely to be augmentation: using AI to summarise documents, draft routine communications, surface product changes and prioritise client follow-ups rather than automating regulated advice end to end. That distinction matters as affordability becomes more complex and […]
Rate Cuts Meet Weak Demand
Yorkshire Building Society has cut selected five-year fixed rates by up to 0.50% for borrowers with 5% deposits, while selected remortgage products have fallen by up to 0.29%. Halifax has also reduced selected two-, three- and five-year fixed rates by up to 0.10%, with Foundation also repricing parts of its range. For advisers, the cuts […]